Following the success of other biotech initial public offerings for the first half of 2020, Lyra Therapeutics (LYRA  ) ended its first trading week on Friday up 16% as market participants continue to confidently invest in the sector. The stock priced high at $16 per share to raise $56 million from 3.5 million offered shares. The drugmaker's lead candidate, LYR-210, is expected to have Phase 2 results by the end of the year. In its debut, the company soared 31%.

Lyra was joined by a few special purpose acquisition companies (SPACs) last week, with U.S. tech-focused Social Capital Hedosophia II (IPOBU  ) raising $360 million for future ventures of Chamath Palihapitya's Social Capital and Ian Osborne's Hedosophia. Fortress Investment Group's Fortress Value Acquisition (FVACU  ) raised $300 million for the company's managing partners CEO Andrew McKnight and Chairman Joshua Pack. Last, Cannabis SPAC Collective Growth Corp (CGROU  ) raised $150 million for former Canopy Growth (CGC  ) CEO Bruce Linton and National Hemp Association Chairman Geoffrey Whaling.

For the week ahead, another biotech as well as an internet gambling software provider and Chinese cloud services company will be joined by two SPACs as the IPO market starts to build momentum again.

Ayala Pharmaceuticals intends to continue the biotech IPO streak by raising $61 million for 3.3 million shares priced at $14-$16 each. The oncology biotech lead candidate is currently in Phase 2 trials.

Gan LTD plans to raise about $65 million from 6.3 million offered shares prices between $6.50-$8.50 each. The London-based internets gambling software provider is focusing on the United States market in expansion efforts, with the company's largest customer being fantasy sports platform and DraftKing's (DKNG  ) rival FanDuel.

Kingsoft Cloud Holdings LTD plans to raise over $517 million from 25 million offered shares priced between $16-$18 each. The Chinese cloud services is the third largest provider in China.

Finally, two SPACs Live Oak Acquisition and Roth CH Acquisition I Co plan to raise capital for future ventures this week, despite the continued rocky market.